While most eurozone countries keep living in austerity, Germany seems to have found a new way to replenish the national budget. Having overcome the resistance of Swiss banks and law-enforcement authorities, Berlin and Bern managed to sign an agreement amending last year’s agreement, which regulates the financial and tax sides of the bilateral relations between Germany and Switzerland. The amendments are aimed at simplifying the struggle with welfare Germans who evade taxes and store their money in Swiss banks.
If the German parliament approves the agreement, the amendments will take place in 2013. The opposing Social Democrats say this isn’t an efficient step as the evaders now have enough time to flee to other offshore zones.
EURUSD. The SRP Department of anticipates the forming of wave 4 h1. However, the current wave is still not completed which means it can be elongated during today’s trading session.
The downswing has already reached the minimal target. If there are no signs of reversal, the next target is 1.2898.
